SpaceX valuation climbs to $180 billion
Publishing timestamp: 2023-12-13 12:54:29
Summary
The valuation of Elon Musk's SpaceX has reached $180 billion through an ongoing secondary share sale. The company is discussing an agreement with investors to sell stock from insiders at a price of $97 per share. This valuation surpasses the market value of top U.S. defense contractors like Boeing and the most valuable U.S. telecom companies such as Verizon. The offer does not involve raising new capital and is expected to close in January. SpaceX's satellite launch market dominance and its Starlink satellite internet business are seen as key drivers for its economic success. The company is classified as a "centicorn" or "hectocorn," with a valuation 100 times over the $1 billion unicorn status.
Sentiment: POSITIVE
Keywords: spacex, northrop grumman corp, technology, elon musk, breaking news: business, aerospace and defense industry, verizon communications inc, space industry, at&t inc, business news, boeing co, business, lockheed martin corp, breaking news: technology, the edge, transportation,
Source: https://www.cnbc.com/2023/12/13/spacex-value-climbs-to-180-billion-higher-than-boeing-verizon.html